Task Force welcomes SEC declaration against HASMADAI operations

DAVAO CITY, Philippines – The Presidential Task Force on Media Security (PTFoMS) has applauded the Securities and Exchange Commission (SEC) for issuing a cease and desist order (CDO) against the Humanitarian and Spiritual Mission Apostulates of Davao and Asia, Inc. (HASMADAI).

The move comes following allegations that its founder, accused of orchestrating the 2019 murder of broadcast journalist Eduardo ‘Ed’ Dizon in Kidapawan, was involved in illegal activities.

PTFoMS Executive Director Usec. Paul M. Gutierrez confirmed receipt of the May 21, 2024 CDO, which also covers HASMADAI Foundation, Inc. and Humanitarian Institute of Technology Corp. The SEC found these entities were selling securities without proper authorization, violating their submitted articles of incorporation.

The CDO, signed by SEC Chairman Emilio B. Aquino, targets 12 officials and incorporators of HASMADAI, including Dante “Bobong” Encarnacion Tabusares, who also operates under the alias Ralph Jimmy Calaor Gayatin. Tabusares, identified as the “Bishop/President/Trustee” of HASMADAI, has been implicated as the mastermind behind Dizon’s murder, allegedly due to the broadcaster’s critical stance against the KAPA Community Ministry, where Tabusares served as a media coordinator.

Following a thorough investigation by the SEC’s Enforcement and Investor Protection Department (EIPD), Gutierrez commended the SEC for uncovering what he described as a scheme by Tabusares to deceive the public, akin to his previous involvement with KAPA. The investigation revealed that HASMADAI was soliciting investments ranging from P5,000.00 to P20,000.00 under the guise of spiritual support, promising returns of 27% to 34% in six months.

The SEC’s findings indicated HASMADAI’s operations extended across various regions, including CARAGA, North Cotabato, Davao del Sur, Visayas, and Luzon, as indicated by its social media presence.

In response, the SEC directed all individuals associated with HASMADAI to comply with the CDO, aimed at preventing further financial harm to the public. Tabusares and his group were given five days to appeal the SEC’s decision.